News, Views and More on ERHC Energy (OTC BB Symbol ERHE) from American Reporter Editor-in-Chief Joe Shea, an ERHE Investor

Tuesday, May 16, 2006

Big Moves: ERHE Climbs As Much as $0.15 in Pre-10Q Trading; "Everything Is For Sale,' Brandhuber Says; CNBC Profile Coming In June

Although it's fallen back to $0.585 five minutes from the bell, just an hour ago ERHC Energy shares were trading at $0.71 after climbing $0.15, or more than 26%, during the day.

The trading has been spurred by the imminent filing of an SEC 10Q that will show the company being nearly debt-free and with $45.5 million in revenues last month against what should be a negligible amount - $1 million to $2 million - of expenses.

The average daily volume mark has still not been reached as of this writing at 3:32pm ET, which means that retail buying should spike again tomorrow when the new numbers are announced. Volume at 3:40pm ET is 2,607.721.

There has also been a flurry of news via email from ERHC CEO Walter Brandhuber to several different posters. The key one was a brief response to one poster who asked about the possibility of ERHC Energy chairman Sir Emeka Offor selling the company, to which Brandhuber replied, in effect, "Everything is for sale at the right price," adding that the current share price is far too low to consider any sale right now.

The new CEO also said that a CNBC profile of the company will appear in the coming months.

About Me

... My greatest achievement was to win a First Amendment lawsuit (Shea v Reno) against Atty. Gen. Janet Reno over the First Amendment, in which I got a law declared unconstitutional in Manhattan Federal Court and was affirmed by the U.S. Supreme Court.
I've been a reporter almost all my life, and have worked at or published in publications like The Reader's Digest, Esquire, Argosy, the Los Angeles Times and the San Francisco Chronicle. I was a 1970 Pulitzer Prize nominee for my stories in the Village Voice, and am an investigative reporter who once got the President's nominee to the SEC withdrawn.
I'm also a native New Yorker who grew up on a farm in a small village that is now an important suburb of New York City. We still live in our pre-Revolutionary War family farmhouse there. I lived in Marietta, Ga., and Norman, Okla., as a kid, and went to the University of Oklahoma, Orange County Community College in Middletown, N.Y., and Antioch College in Columbia, Md.
I lived in Beverly Hills and Hollywood, Calif., for 26 years until moving to Bradenton, Fla., in 2003.